Hudson River Joins TP Icap Digital Assets Platform

TP Icap continues to build its digital assets offering and has announced the addition of quant outfit Hudson River Trading as a market maker on its spot digital assets platform set to launch later this year.

The inter-dealer broker has already announced fellow quant firms Susquehanna, Flow Traders, Jane Street and Virtu Financial as LPs to its new OTC platform, which remains subject to registration with the UK Financial Conduct Authority. Upon launch, TP Icap says the platform will leverage the increasing demand from clients to trade spot cryptoassets. Further to its OTC electronic execution capabilities, the platform also includes post-trade infrastructure providing straight-through processing and payment netting services for settlement of trades across a network of digital asset custodians.

“As we approach the launch of the platform, we are excited to add Hudson River Trading, another exceptional partner, further adding to our liquidity and price discovery capabilities,” says Simon Forster, co-head of digital assets at TP Icap. “We have long admired the work of HRT in the market and its commitment to this new asset class, and alongside the numerous market makers already confirmed, highlights the strength, and promise of our Digital Assets Platform. The year has begun with heightened interest in digital assets and we are looking forward to capitalising on our position as an independent broker with a market leading platform to support the growth of this asset class with institutional investors and traders.”

Brad Vopni, head of digital assets, Hudson River Trading, adds, “With its vast network of high quality liquidity providers, expertise, and commitment to the digital asset space, TP Icap is an ideal partner for Hudson River Trading. As an active participant in the crypto markets since 2017, we have witnessed a number of major milestones that have helped pave the way for greater institutional adoption of crypto. Together, we will provide a new set of investors with the ability to gain access to this rapidly evolving asset class on a familiar institutional-grade platform.”